![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/everything-you-need-to-do-now-to-protect-your-money-ahead-of-autumn-statement/&media=https://uknews.evprotec.com/wp-content/uploads/2022/11/5_JS269936099.jpg&description=Brits have been warned they face crippling tax raids and huge spending cuts when Chancellor Jeremy Hunt announces his Autumn Statement this morning. The statement is set to confirm about £21billion of tax rises and £33billion of public spending cuts a year by 2027/28, to try and fill the £54billion black hole left by Liz Truss crashing the economy. Changes we could see announced today include stealth tax raids on Income Tax and National Insurance, plus the possibility of larger council tax increases. But more cost of living payments could be on the way, along with the confirmation that the state pension and benefits will rise in line with 10.1%. We list some of the key changes that could happen - and how to prepare yourself now. What would you like to see announced in the Autumn Budget? Let us know: mirror.money.saving@mirror.co.uk Our Cost of Living team of experts are here to help YOU through a very difficult year. They'll be bringing you the latest money news stories and also providing specialist advice. Whether it's rocketing energy bills, the cost of the weekly shop or increased taxes, our team will be with you all the way. Every Thursday at 1pm they will take part in a Facebook Live event to answer your questions and offer their advice. Visit facebook.com/dailymirror/live to watch. You can read more about our team of experts here. If you have a question - or want to share your story - please get in touch by emailing webnews@mirror.co.uk. Lower your Income Tax and National Insurance bill The Chancellor could be set to freeze the thresholds for when you start paying Income Tax and National Insurance by another two years. This is known as a "stealth tax" as more people are dragged into paying higher tax as wages and prices rise. The thresholds for Income Tax and National Insurance - which are set at £12,570 - are already frozen for four years to April 2026, but this could be stretched out to April 2028 now. At the moment, you pay 20p in the pound above this thres){kind=link}
The Autumn Statement is set to confirm about £21billion of tax rises and £33billion of public spending cuts a year by 2027/28, to try and fill the £54billion black hole
Brits have been warned they face crippling tax raids and huge spending cuts when Chancellor Jeremy Hunt announces his Autumn Statement this morning.
The statement is set to confirm about £21billion of tax rises and £33billion of public spending cuts a year by 2027/28, to try and fill the £54billion black hole left by Liz Truss crashing the economy.
Changes we could see announced today include stealth tax raids on Income Tax and National Insurance, plus the possibility of larger council tax increases.
But more cost of living payments could be on the way, along with the confirmation that the state pension and benefits will rise in line with 10.1%.